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NewsNM note (Spence) - The semantics used to describe the debate over tax policy is ridiculous. The debate framework is pretty simple. We have had the same tax rates for a decade. Even when President Obama had super majorities in both the House and the Senate rates stayed the same. Now we are arguing over whether to raise tax rates. President Obama wants to raise tax rates on everyone making over $250,000 per year. Earlier this week on CNBC, President Clinton said that should not happen. Instead he favored a comprehensive approach to debt and deficit reform. Yesterday on CNN, under pressure from the Obama camp, he recanted and said he supported Obama's policy of raising taxes.Politico - Appearing on TV on Thursday, Clinton said he “regrets…this stirring up” and is “very sorry” for veering off message on the Bush tax cuts, and the former president denied he is undermining President Barack Obama, insisting he is fully committed to Obama’s reelection.
“I’m very sorry for what happened. I thought something had to be done on the fiscal cliff before the election,” Clinton told CNN’s Wolf Blitzer, referring to comments he made this week suggesting the Bush tax cuts should be extended - something Obama vehemently opposes. “I support [Obama’s] position [on the Bush tax cuts], and I think on the merits, upper-income people will have to contribute to long-term debt reduction.” Read full story here: News New Mexico